Hand sanitize everybody stations are available throughout the building and each elevator and masks upon request at the front desk. Roll call. Commissioner bridges. She will be in late. She is running late. Commissioner driscoll. Present. Commissioner gandhi. Front. Commissioner heldfond. Here commissioner safai will arrive and commissioner stansbury is absent. And commissioner tumlin. Present. Commissioner thomas, present. We have a quorum. First item, please. Thank you. Item 2 communications. Welcome publics participation during comment periods. Will be an opportunity for general Public Comment after closed session. There will be an opportunity to comment on each discussion or action item on the agenda. Each community is limited to 2 minutes. Comment will be taken in sxrn remote by video or call in. For each item will take comment first from people in person. And then for people remote. Comments or opportunity to speak during Public Comment period are available via phone by calling 4156550001. Access code 2481 662 8756. Connected you will hear the meeting discussions but muted and in listening mode only. When your item come up press star 3 to be added to the queue. Best practices call from a quiet location, speak clearly and slowly. Note that policies with federal, state and local law prohibits harassing conduct against City Employees and others during Public Meetings and not be to the ritted. Public comment is per mistod matters went jurisdiction of the meeting body. Thank you for joining us. Thank you, ma dad secretary call the next item. Thank you. Item 3 action item. Rehave you and approval of october 2022, board resolution to continue to meet in person with some members attending remet for 30 days pursuant to california code section 54953e. Okay. Action item is to adopt october 22 resolution recommending the retirement board mote in person with some possibly remote for the next 30 days. To adopt this [inaudible] state legislation codified Government Code Section por95e. Ab361ful including the state and city remain im sorry according the city and city remain in a state of emergency due to the pandemic and conducting moltings. Retirement board and committed in person without allowing certain members to attends remote with [inaudible] risk to the [inaudible] if certain attendsise [inaudible] covid19. And providing all meetings of the retirement board and committees provide an opportunity for members of the public to address the body and otherwise occur in a manner that projects the constitutional rights. Others and members of public attending in person [inaudible] have a motion, please . So moved. Second. And [inaudible]. Commissioner thomas and seconded by commissioner [inaudible]. [inaudible]. Take Public Comment. Please. Thank you we have no in person Public Comment at this time. Moderator, callers if you have not done so press star 3 to be added to the queue. Please continue to wait until the system indicates you have been unmuted. Do we have callers on the line. You have no callers on the line thank you. Public comment is closed. Okay. Motion made by commissioner thomas and seconded by commissioner driscoll. Have a roll call vote. Thank you. Commissioner driscoll. Aye. Commissioner gandhi. Aye. Commissioner held fond. Aye. And mr. Thomas. Aye. Motion passes. Will take a second here. And im going to speak for the board and im nobody is deserving on this. With the governoror talk with the relaxation of pandemic. The board extend thanks and gratitude to staff who cio and her staff and [inaudible] unfortunate and it does change the way we work butt upon point is upon the retirement system has functioned, prospered and except for a few glifrners normal and expected above and beyond expectation of the Board Members. Thank you. I assume you can extend that to the team. Okay. At it time the board will move to a closed session item 4a and a conference with Legal Council on pending litigation. And now go ahead. We ask for a vote to go in closed session. Dom we have a vote on that last item. We did. It is i pending litigation wey need to take a vote to board to invoke the Attorney Client privilege and then go to closed session. Okay. We will take a vote for Attorney Client privilege to go in closed session for the litigation discussion. So moved. Second. This includes 4b the investment items for closed session. From the closed session to closed session, yes. Thank you, joe. So we have a motion to include 4a and 4b. Can we take Public Comment, please. Thank you, no in person comment at this time. Reminder to callers to press star 3. Do we have callers . We have no callers on the line thank you, Public Comment is now closed. Okay. We have a motion made by commissioner thomas and seconded by commissioner driscoll. And roll call, please. Thank you, commissioner driscoll. Aye. Mr. Gandhi. Aye. Mr. Heldfond. Aye commissioner thomas. Aye thank you motion passes. Everybody we will wave the open session and move to closed session were now open for Public Comment. A motion first. Can i have a motion weather to disclose our closed session a and b versions. I move we vote back in open session and in the disclose what was discuss in the a or b. Second. Call the roll. We do Public Comment first and we have no in person public at the moment. Moderator do we have callers on the line . We have one caller on the line. Thank you, caller state your name. Hi. Good afternoon im sascha kraun work with active community together. Thank you. Im sascha kraun and the state policy manager an initial nonprofit dedicated improving the lives of african immigrants in the United States we support voter rights we are here to talk about the affects of your investment in the cim group. Board invested 931 Million Dollars in cim a company stopped to make a prefer with actions mistreated workers in alexander, very well via. In 20 between the cim bought southern towers home to hard working families seeking a better life and known as a safe haven Blue Collar Workers find Affordable Housing that change when cim bought the compledge cim claims they are community focused, actions made it clear they would contribute to the displacement of work class families than provide stable and safe housing. Other lonned lords stopped fileinglyi verifications cim filed 500 properties bought with federal upon funds cim violated federal law. Despite. Tenanters facing maintenance issues and rent increases. Ir bring this to your attention you have a duty to your pensioners to invest their money responsibly. With the violations of behavior im asking to you consider weather your investment is in line with your duties for public. Wheys trust you with their money. We ask you dont invest with them in the fufrment thank you for your time thank you. Do we have further callers. We have one more caller on the line. Thank you. Caller, state your name. Good afternoon im [inaudible] in professional 21 i applied for disability retirement. [inaudible] [echo] decision on my application i did notice in the past 12 months only 75 applications that i received a hearing not including [inaudible]. Thats an average of 6 a month. Something over 3 years. According to a june 12 Department Director [inaudible]. Regarding disability application process, i should have received my readiness 7 months ago. According to that statement when i received that deal or [inaudible] did in the add weight until the hearing officer makes a decision even if i receive this deal i would not receive the decision until month 25 i suspect i will not receive it soon. Over 2 years before a decision. My question is how many retirement applications are in the queue and 6 applications a month to a hearing officer [inaudible] number of applications submitted each month. Do more need to be hired. Thank you thats all i have to say. Thank you. Caller. Moderator are there further callers . No further callers, Public Comment is closed. Vote is in order as to disclosure. It seconded. Commissioner bridges. Aye. Commissioner driscoll. Aye. Commissioner gandhi. Aye. Commissioner heldfond. Aye. Commissioner thomas. Aye. Thank you we have 5, motion passes. Okay. Item 5 now, right . Yes. General Public Comment. [no audio] we have know [inaudible] herrer winer for general Public Comment. [inaudible] [inaudible] transparency and accountability shelter by the layers of limited Liability Corporation in addition there is regulation, can avoid responsibility in the case of environmental disasters. [inaudible] returns, there sift risk of break down of the investments out kroi and with our portfolio suffering. If that [inaudible] was seen to scrutiny appropriate divestments and counter balance equityys stake hold and components. As a beneficiary this is a constructive comment. [inaudible]. Okay. Thank you. We dont have any in person public at this time of callers if you have in the done so, press star 3. Are there callers on the line . There are no callers on the line thank you. Public comment is closed. For the record, commissioner safai joined us we are on item 6. Wrap it up and go and take a break at 1 oclock commissioner thomas [inaudible] at lunch at 1 00 that was what requested. But it is a bit late. We could request we break at 1 oclock we have a call waiting to jump on at lunch. Okay. That is late but we can try to accommodate that we will not do this every time. The one time. Okay we have a quorum commissioner thomas. Okay. Lets finish this item do item 6. Im item 6 action item. The september 15, 2022 retirement board meeting. Motion on that . I move adoption of the minutes as submitted. Second. Moved and seconded. You want to have Public Comment. Thank you. We have no in person Public Comment. A reminder to press story 3. Moderator, do we have callers . There are no callers on the line thank you. Public comment is closed. Get a vote on the motion. Yes, commissioner bridges. Aye. Commissioner driscoll. Aye. Commissioner gandhi. Aye. Commissioner heldfond. Aye. President safai. Aye. Commissioner thomas. Aye. Thank you we have 6 ayes motion passes. Now im passing the gavel to president safai on item 7. Thank you. This is an action item [inaudible] consent calendar. Move to approve. Move to approve by commissioner safai is there a second. Seconded by gandhi. We got a second, thank you. Madam secretary. Lets take Public Comment. In person first and open up the lines thank you. We have no in person public at the moment. Approximate press story 3 to be added in the queue. We have no callers on the line. Thank you. Public comment is closed. Public comment is closed. Madam secretary, a motion made and seconded we will take a vote. Commissioner bridge the, aye. Commissioner driscoll. Aye. Commissioner gandhi. Aye. Commissioner heldfond. Aye. President safai. Aye. Commissioner thomas. Aye. Thank you, weave have 6 ayes motion passes. Great. Um item 8 is also an action item recommendation to issue request for proposals general v. Consulting service. A motion . I can there is a presentation looks like. Who will. . Thank you. Good afternoon, commissioners. The african [inaudible] request for [inaudible] proposal rfp for general Investment Consulting service the retirement board is authorizeed retain consultants to serve as advisor to the bond. The scope of the rfp for general Investment Consulting service we use the total Fund Investment policy [inaudible] including Plan Investment governors, liability studies, capitol market research. Risk management framework, planning and investment policy development, implementation and oversight. Second, supporting including quarter low performance reporting to the board. And evaluation of the chart, implementation analysis of the chart. Third, training, education to the board. Including the month low board meetings. The process in 20 then and awarded 3 Year Contract which will expire the end of this year. You have been provided a draft of the rfp. The scope of engagement is in tact after review was first [inaudible] cio Alison Romano and head of investment operations we add a few questions to the rfp. If approved we plan to issue the rfp on november first with a dead line to submit response on december 15th. The semi finalist will present to the board in the beginning of the next year. With that id like to give a recommendation on issue it for the general consultant Investment Services to the board. Any questions from commissioners. I have a procedural question since there are you 2rfps. Not about yet roles are split but will there be 2 sets of interviews . One consultant is board interview. And it is other wife board for the Public Markets we dont plan to bring it to the board because it is staff consultants. Any other questions. No. I have no problem proposing that thank you. Anyone else other questions . Any comments . I add [inaudible] project difficult to understand]. Position to get the service you need that [inaudible] the course business we do this the cycle of existing contracts and the key points. Great. Is there a motion . Motion to adopt rfp for general Investment Consultant service. Second. Motion made by commissioner heldfond. Lets take Public Comment. Thank you other we have no in person Public Comment at this time. Press star 3 to be added to the queue. Do we have callers . [inaudible] i want to make a question besides the question about the significant change in our process. I saw a couple times and you did in the say anything. Excuse me for not. I had a comment not a question. [inaudible]. Great. Will we called Public Comment we take Public Comment and come back to you. Thank you, do we have callers in the line. We have one caller on the line. Thank you. Caller state your name. Caller, are you there . Looks like we lost our caller. Thank you. Hearing no further callers, Public Comment is closed. I have a comment. Commissioner driscoll you had a comment . Yes. Perhaps not clear on this change in the process. Splitting the role of the general consultants in 2 roles and leading to 2 consultants i have no problem that was explained to me. The issue the staff was there for only i could approximate the consultant work in the manager selection issue. Is one change. The our Investment Policies there was significant can changes made the left time this contract was approved granted the board approved it after some debate. The changes were written by staff. Of the boardo consultant of the working relationship was changed. All minor changes yet significant. But if the board over 18 months ago was a discussion about trying to change the decision make process the delegation to staff. The committee worked on this for months it never got to the board because of something that happened here almost 18 months ago. Thats what this issue is right in the middle of. I have a problem delegating the selection issue to the staff by letting them pick their consultant without the board participating at all. Therefore, the fact the semi finalist picked for us fineful we interview but they will only pick their own consultant the board be relying on. That change was not sunrise when this was spliened to me. There were until we decide how well dealtigate the Staff Investment decisions we should not do that. Commissioner driscoll if i can add one comment. This is the [inaudible] the wave staff is operating with private [inaudible] and so returning weave staff reviews and we issued an rfp18 months ago and for all private efforts equity and assets. And that was the finalists the rfp was reviewd and approved by the board. And the finalist was presented to the board and accepted by the board. It is no different from Investment Consultants to other classes. And the next item now i can clarify or extend. We did in august of 2020 issued 3rfps for private consultants, it [inaudible] staff did work and came back to the board with recommendations for the given out [inaudible] [echo, hard to understand]. What we propose in the next item is consistent with the private markets by again having staff make a recommendation and the board would approve that recommendation. So the distinction with the 2rfps for the boards consultant we will present semi finalists to the board. For to you interview. But given the Public Market consultant is the staff consultants staff dot work the board has to approve our recommend agsz. There is a distinction that really, really with when we do [inaudible]. It is not the decision is in the deligated to staff. The board will approve those. Between the Public Security market s and private where real estate and assets are done thats a reason i went along with that change. Im trying to avoid staff presenting recommendedations at the board take it or leave it basis which is what this is. Part 2 is not part 1. I understands why you split them but all of the sudden . The board gets to participate in one decision well be department on but not the other one . I would caution that we should stick to the item next 8 and then bring up concerns about other. Item 9. They are connected. Did we get a vote on 8. No. I dont think so. We did get a vote. Im sorry, we are on 8. We need to vote on 8. Gee cant jump ahead in the agenda. Gi thought we had. There was a vote. No, i got i see it. We have comments for item 8. Commissioner driscoll.